Harsco Receives New Rail Equipment Orders Totaling $13 Million, Continues to Expand International Footprint

Published on Monday, 30 August 2010 09:14 Written by TradersHuddle Staff

HARRISBURG, Pa., Aug. 30, 2010 (GLOBE NEWSWIRE) -- Worldwide industrial services and engineered products company Harsco Corporation (NYSE:HSC) announced today new orders totaling $13 million for its Harsco Rail unit, including orders from Bangladesh and Liberia, as the Company continues to expand the international market penetration of its Harsco Rail business in parallel with new orders from the United States.

Harsco will construct a new Mark VI railway ballast tamper for the Bangladesh Railway system, a 1,700 mile network that serves as a primary backbone of Bangladesh's transportation infrastructure. The new unit will support the country's continuing track improvement and expansion programs. The Harsco Mark VI tamper is one of the most advanced track surfacing systems available today, providing automatic leveling, ramping and superelevation of track. The unit will be constructed in Harsco Rail's U.S. production facilities and is scheduled for delivery in 2011.

The Liberian order calls for the sale of a Harsco Rail Grinder to perform ongoing rail maintenance of industrial railway operations which transport heavy materials by train. Its delivery will also be in 2011. Harsco's rail grinders re-profile rail surfaces to extend rail life, provide smoother travel, and to correct surface damage that could lead to rail fractures.

Harsco has also received new orders in the U.S. from three railroads for its innovative new Drone Tampers. These units incorporate two-way wireless Ethernet technology to work behind a conventional lead tamper as an unmanned, fully automated chase vehicle that can tamp track roadbed without an operator onboard. The units are scheduled for delivery beginning later this year and continuing into early 2012. 

"These latest orders reflect our focused efforts for maintaining a strong and balanced pipeline and expanding both our international reach and technological capabilities," said Harsco Rail president Scott Jacoby. Harsco Rail is the largest provider of railway track maintenance of way services and equipment in the U.S. and the second largest in the world, serving customers in virtually every geographic sector. Its operations include facilities in the U.S., U.K. and Australia. 

Harsco Corporation serves key industries that play a fundamental role in worldwide economic growth, including infrastructure, metals, railways and energy. Harsco's common stock is a component of the S&P MidCap 400 Index and the Russell 1000 Index. Additional information can be found at www.harsco.com. 

The Harsco Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=361

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